bp, ADNOC and Masdar have signed three agreements with the potential to lead to billions of dollars of investment into clean and low carbon energy, creating potentially thousands of energy jobs.
The first agreement would see the companies collaborate to initially develop 2GW of low carbon hydrogen across hubs in the UK and UAE, to expand as the project progresses. Access to clean hydrogen – a critical fuel in the decarbonization of hard-to-abate industries – can reduce emissions, enable new, low-carbon products, and unlock future fuels.
It could also lead to the first international investment in the low carbon hydrogen facility in Teesside (H2Teesside), which aims to produce 1GW of blue hydrogen starting in 2027. H2Teesside would capture and store up to two million tonnes of carbon dioxide (CO2) a year through the Northern Endurance Partnership (NEP). The investment is expected to support thousands of jobs and stimulate economic growth. It is also expected to diversify and bolster local supply chains in both the UK and UAE.
bp and Masdar have also agreed to explore opportunities to develop, build and operate sustainable energy and mobility solutions for cities – in the UK, UAE, and beyond – on the road to net zero.
Finally, bp and ADNOC plan to deepen their collaboration to decarbonize oil and gas operations in Abu Dhabi, including the potential development of Carbon Capture Use and Storage (CCUS) hubs. The two companies would also harness advanced methane emission detection and reduction technologies and create Smart Decision Centres in the UAE, where digital and AI technology would then be used to accelerate operational efficiency.